The new trading week is shaping up to be dynamic, bringing traders a series of important economic releases and central bank statements. Market attention will center on inflation and labor market data from the UK and US, as well as GDP reports from the Eurozone and the UK, offering valuable insight into the health of major global economies. Aside from that, speeches from the Federal Reserve and the European Central Bank could shed light on the direction of future monetary policy.
United States:
● 1:30 p.m. GMT: FOMC Member Daly to Speak. Crucial for the USD. Remarks from the Federal Open Market Committee member could offer fresh signals on the Fed’s future monetary policy — a key driver of dollar dynamics.
United Kingdom:
● 7:00 a.m. GMT: Unemployment Rate (September). Previous: 4.9%; Forecast: 4.8%. Crucial for the GBP! Labor market data is a core indicator of the economy’s strength and plays a major role in shaping Bank of England policy expectations.
Eurozone:
● 8:20 a.m. GMT: ECB President Lagarde is scheduled to speak. Important for the EUR. The ECB President’s comments on inflation, growth, or future monetary policy could impact the euro’s direction.
Germany:
● 7:00 a.m. GMT: CPI (Month-over-Month) (October). Previous: 0.3%; Forecast: 0.3%. Crucial for the EUR. A key inflation indicator for the eurozone’s largest economy, closely monitored by the ECB when assessing monetary policy.
United States:
● 10:00 a.m. GMT: OPEC Monthly Report. Crucial for oil prices (Brent, WTI). This report provides updated projections for global oil supply and demand, directly influencing energy market trends.
Eurozone:
● 10:00 a.m. GMT: Eurogroup Meeting. Crucial for the EUR. A gathering of eurozone finance ministers to discuss key regional economic and financial issues.
United Kingdom:
● 7:00 a.m. GMT: GDP (Quarter-over-Quarter) (Q3). Previous: 0.2%; Forecast: 0.3%.
● 7:00 a.m. GMT: GDP (Year-over-Year) (Q3). Previous: 1.4%.
● 7:00 a.m. GMT: GDP (Month-over-Month) (September). Previous: 0.0%; Forecast: 0.1%. Crucial for the GBP! The UK’s latest GDP reports will give a broad view of the economy’s performance. Any deviations from forecasts could trigger strong volatility in the pound.
United States:
● 1:30 p.m. GMT: Core CPI (Month-over-Month) (October). Previous: 0.2%. Crucial for the USD!
● 1:30 p.m. GMT: CPI (Month-over-Month) (October). Previous: 0.3%. Crucial for the USD!
● 1:30 p.m. GMT: CPI (Year-over-Year) (October). Previous: 3.0%. Crucial for the USD! These inflation figures are among the most significant for the Fed’s policy outlook. Strong readings may reinforce hawkish expectations and boost the dollar.
● 1:30 p.m. GMT: Initial Jobless Claims. Forecast: 218K. Crucial for the USD. A key weekly snapshot of the US labor market, reflecting new unemployment claims.
● 5:00 p.m. GMT: Crude Oil Inventories. Forecast: 5.202M. Crucial for oil prices (Brent, WTI). Regularly causes short-term price movements in energy markets.
China:
● 2:00 a.m. GMT: Industrial Production YTD (Year-over-Year) (October). Forecast: 6.2%. Crucial for the CNY and global sentiment. A major gauge of industrial performance in the world’s second-largest economy, influencing global risk appetite.
Eurozone:
● 10:00 a.m. GMT: GDP (Quarter-over-Quarter) (Q3). Previous: 0.2%; Forecast: 0.2%. Crucial for the EUR! The eurozone GDP report offers insights into the region’s growth momentum and overall economic health.
Canada:
● 1:30 p.m. GMT: Wholesale Sales (Month-over-Month) (September). Previous: 0.0%; Forecast: -1.2%. Crucial for the CAD. Reflects business activity in Canada’s wholesale sector and serves as an early indicator of overall economic trends.
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